Finances
Financial Statements of Revenues and Expenses
Statements of Revenue and Expenses (unaudited)
For the year that ended December 31, 2014
Revenues: |
Non-Board Contributions* | Board Contributions | $ Millions Total |
|---|---|---|---|
| Contributions | 96.6 | 78.5 | 175.1 |
| Net Gains on Board-Donated Investments | 8.4 | 8.4 | |
| Interest & Other Income | 0.2 | 0.2 | |
| Total Revenues | 96.6 | 87.1 | 183.7 |
Expenses: |
Grants Paid With Non-Board Contributions* | Costs Covered By Board Members** | Total |
| Program: | |||
| Grants & Initiative | 76.7 | 56.1 | 132.8 |
| Evaluation & Consulting Services for Grantees | 0.1 | 0.1 | |
| Program Salaries & Overhead | 7.7 | 7.7 | |
| Subtotal - Program | 76.7 | 63.9 | 140.6 |
| Fundraising & Public Information | |||
| Communication & Events Production | 9.1 | 9.1 | |
| Development Salaries & Overhead | 9.6 | 9.6 | |
| SUBTOTAL: FUNDRAISING & PUBLIC INFO | 0.0 | 18.7 | 18.7 |
| Administration Salaries & Overhead | 4.0 | 4.0 | |
| Total Expenses | 76.7 | 86.6 | 163.3 |
| Change in Net Assets | 19.9 | 0.5 | 20.4 |
| Total Net Assets, Beginning of Year | 369.6 | ||
| Total Net Assets, End of Year | 390.0 | ||
| Total Net Assets | 390.0 | ||
| Less: Board Designated for 2014 | (292.5) | ||
| Less: Board & Donor Restricted by Time & Purpose | (44.3) | ||
| Less: Illiquid, Restricted Assets | (4.1) | ||
| Residual Spendible Net Assets at 12/31/14*** | 49.1 |
* 100% of unrestricted Non- Board contributions pay for grants and initiatives within one year. 2013 unrestricted contributions were used to pay for core grants in 2014.
** 100% of all overhead costs are covered by Board donations unless specifically funded by restricted donations.
*** Spendable net assets are net assets that remain after subtracting all liabilities, commitments and illiquid assets. This is Robin Hood’s reserve fund. Because all non-board donations are designated solely and directly for program grants, this reserve fund is comprised exclusively of board-donated dollars.
